Which of the following taxes is only paid on the first $128,400 of your salary?
A) Federal Income Tax
B) Social Security Tax
C) Medicare Tax
D) All of the above

Question

Quizplus · Accepted Answer

Social Security Tax is subject to a wage base limit, which was $128,400 in a previous year. This means that income above this threshold is not subject to Social Security Tax. Federal Income Tax and Medicare Tax do not have such a cap; they apply to all income levels, with Medicare Tax even having an additional surcharge for high earners.

Which of the Following Taxes Is Only Paid on the First